Cultured Meat Market 2023 Competitive Landscape, Cost Price and Forecast
Cultured Meat Industry
The global cultured meat market size was valued at USD 246.9 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 51.6% from 2023 to 2030. The growing technological advancements in the alternative proteins space are driving a shift toward sustainable food systems globally. Meat substitutes and alternative proteins are gaining global attention with the growing need to overcome meat shortages against the growing population and environmental impact. The awareness of environmental sustainability and rising focus on securing meat supply are among the factors responsible for the growth of the cultured meat industry globally.
The outbreak of COVID-19 and the resultant lockdowns disrupted supply channels globally. The widespread disruption in supply chains also influenced cultivated meat production. The procurement of equipment was delayed due to trade barriers. Bioreactors are important processing equipment for the cultivated meat industry, providing an appropriate environment for cultivating animal cells.
Gather more insights about the market drivers, restrains and growth of the Global Cultured Meat market
Cultured Meat Market Segments:
Source Insights
In terms of revenue, poultry dominated the market with a share of over 39% in 2022. Chicken consumption has increased in North America during the past 50 years. It is the most consumed meat in the U.S., with over 8 billion chickens slaughtered for food each year. Globally, more than 50 billion chickens are raised every year. The rise in the number of startups and market entrants investing in cellular agriculture technology to develop poultry-cultivated products is favoring the growth of the poultry segment.
End-use Insights
In terms of revenue, burgers dominated the market with a share of around 41% in 2022. The cultured burger segment is expected to gain traction owing to growing consumer preference for sustainable and ethical meat alternatives. Cultured meat burgers have the potential to reduce the environmental impact of the meat industry.Several startups and key players are experimenting with cultivated meat, which is also expected to support the growth of the segment. In January 2020, the maker of the world’s first cultured meat hamburger, Mosa Meat, announced a partnership with animal nutrition company Nutreco, which will provide Mosa Meat with a nutrient-filled liquid to produce meat.
Regional Insights
North America dominated the cultured meat market with a share of over 35% in 2022. Increased demand for sustainable meat and poultry products, coupled with the presence of key players in the region, is supporting the growth. Several U.S.-based companies such as Fork & Goode and BlueNalu are gradually investing in cell-agriculture technologies to produce cultivated meats in the region.
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Key Companies & Market Share Insights
The market is characterized by the presence of various startups and emerging companies. Companies have been implementing various strategies such as mergers & acquisitions, expansion of production facilities, investing in research and development, and new product launches to gain a competitive advantage.
- Avant Meats Company Limited announced its series A funding of around USD 10.8 million by S2G Ventures, a direct investment arm of an impact platform company, Builders Vision. This helped the company commercialize marine protein and cultivated fish, scale up production, and sell high-quality products to consumers
- Mosa Meat and Nutreco announced the European REACT-EU recovery assistance program awards their joint ‘Feed for Meat’ project with a grant of almost USD 2.17 million to advance cellular agriculture and bring cultivated beef to the EU market. The program will fund R&D to specifically address the ‘basa’ or base media in which the beef cells grow.
Some prominent players in the global cultured meat market include: -
- Aleph Farms
- Avant Meats Company Limited
- Biftek INC
- Mosa Meat
- BlueNalu, Inc.
- BioFood Systems Ltd
- WildType
- New Age Eats
- Shiok Meats Pte Ltd
- SuperMeat
- Meatable
- Finless Foods, Inc
- Fork & Good, Inc.
- Future Meat Technologies Ltd
- UPSIDE Foods
- Mission Barns
Segments Covered in the Report
Grand View Research has segmented the global cultured meat market based on source, end-use, and region:
Cultured Meat Source Outlook (Revenue, USD Million, 2017 - 2030)
- Poultry
- Beef
- Seafood
- Pork
- Duck
Cultured Meat End-use Outlook (Revenue, USD Million, 2017 - 2030)
- Nuggets
- Burgers
- Meatballs
- Sausages
- Hot Dogs
Cultured Meat Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Italy
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Argentina
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
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